TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Litecoin Price Analysis: LTC/USD bulls dealt a rejection blow

  • Litecoin price is trading in negative territory by 0.30 % in the session on Friday. 
  • LTC/USD pressure is back on to the downside, after the exponential gains on Thursday. 
  • The next major area of support will be eyed back down at the $40 mark.
Litecoin Price Analysis: LTC/USD bulls dealt a rejection blow
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Price action has retested a breached bear flag and has so far been dealt a rejection, leaving the door open to another drop. 

LTC/USD 60-minute chart

Given the current price behaviour, there is a risk of a reversal of the gains made in the period session. Bears broke out of a narrowing triangular structure to the downside. 

Spot rate:               42.04

Relative change:  -4.35%

High:                      42.79

Low:                       41.67

LTC/USD

Overview
Today last price42.0084
Today Daily Change-0.5561
Today Daily Change %-1.31
Today daily open42.5645
 
Trends
Daily SMA2041.4752
Daily SMA5044.529
Daily SMA10054.9879
Daily SMA20052.893
 
Levels
Previous Daily High43.767
Previous Daily Low37.9812
Previous Weekly High47.6578
Previous Weekly Low39.9638
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%41.5568
Daily Fibonacci 61.8%40.1914
Daily Pivot Point S139.1081
Daily Pivot Point S235.6518
Daily Pivot Point S333.3223
Daily Pivot Point R144.8939
Daily Pivot Point R247.2234
Daily Pivot Point R350.6797

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

More from Ken Chigbo
Share:

Editor's Picks

Top Altcoins Price Forecast: Ripple, Cardano and Solana halt decline amid signs of exhaustion

Top Altcoins Price Forecast: Ripple, Cardano and Solana halt decline amid signs of exhaustion

Top altcoins, Ripple, Cardano, and Solana, hold steady on Thursday, halting the prevailing decline linked to hot US inflation data and the post-US midterms period. The brief pause suggests that the markets have priced in October’s hot CPI of 0.4%, beating the 0.3% market expectation.

Ripple pares losses above $1.00 amid subdued investor interest

Ripple pares losses above $1.00 amid subdued investor interest

Ripple pares losses on Thursday, trading around $1.05 amid a largely lethargic broader cryptocurrency market. Bulls have found no relief since the sharp correction on November 5 and are banking on support between $1.00 and $1.05 to push for range trading ahead of fresh recovery attempts.

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure as bottom signals remain elusive

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure as bottom signals remain elusive

Bitcoin corrects near a key support range near $73,000 on Thursday, trading alongside altcoin majors Ethereum and Ripple. The smart contract token, ETH, holds above its $2,000 demand area, while the remittance token XRP upholds technical weakness, raising correction odds below $1.00.

Pi Network rebound loses steam ahead of critical resistance trendline

Pi Network rebound loses steam ahead of critical resistance trendline

Pi Network price is holding steady around $0.0700 at press time on Thursday, consolidating around the round figure after Tuesday’s 8% rebound. The rebound coincided with a massive outflow of more than 590 million PI tokens from the OKX exchange wallet, suggesting reduced downside pressure.

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.